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  • Writer's pictureRED FORKLIFTS PTE LTD

Cost of operating a forklifts

Updated: Dec 8, 2020

Forklifts are critical equipment for day to day operation for most companies. They also represent a large upfront investments for businesses. We at Red Forklifts pride ourselfs for being able to provide the most suitable and affordable equipment for your needs. Being a SME, we understand the need to reduce cost in order to stay competitive. Whether you are looking to purchase a fleet or for short term rental we will be able to support your requirements.

Renting Forklifts

For short-term needs and small one-off projects, renting can provide a quick solution for materials

handling issues that come up occasionally, or run on a predictable schedule.

-Advantageous for small businesses without immediate liquidity to purchase

-Can be cost-effective for short- to medium-term usage

-Choose from a variety of lifts and material handling solutions depending on the project

-Maintenance and upkeep is someone else’s problem

Rental Considerations

-Requires advanced planning and scheduling

-Some potential for unexpected costs can be incurred if projects take longer than expected

-Learning curve for operators on new or unfamiliar equipment with each job

Buying Used or New Forklifts

Depending on your business model, buying new or used forklifts can make a tremendous impact on your overall efficiency and the effectiveness of your materials handling process. For example, owning a forklift might make sense for your business if you consistently have large material handling needs and can afford to properly service and maintain a forklift.

-Advantageous for large businesses with consistent need

-Ready on call, which can provide more flexibility and efficiency

-Superficial exterior damage won’t affect your costs

-Set pricing that can be easily budgeted

-Operators have experience with consistent equipment

Purchasing Considerations

-Requires large upfront capital investment

-Equipment depreciates and requires regular maintenance and investment

-Less access to the latest technology and models

-Projects at multiple sites require planning and transportation costs

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